Life Assurance Cover

Life Assurance Cover policy is of great importance as it guarantees the beneficiary a lump sum of money after the passing of insured. Policies are of various forms with some providing a method of investment.

They include:-

1. Individual life which offers term, endowment and whole life policies,
   (i) Term Assurance: Is where the sum assured is paid to the insured upon death within the term specified in the policy. If the insured outlives the term specified in the policy, no payment is made and the insured does not receive any return from the premiums paid, they are solely for the purpose of life cover.
   (ii) Endowment Assurance: It's an ideal plan that has been designed to adapt to individual needs, the plan includes life cover at a reasonable cost and has an added attraction of a wide choice of flexible terms. It provides continuous partial maturity benefits to the policy holder until the end of the term e.g. 10, 15, 20 or 25 years. Upon maturity of the policy, or the death of the policy holder (whichever comes first), the outstanding sum assured plus all accrued bonuses are paid to the insured.
   (iii) Whole Life Assurance: Is the most basic form of life assurance, offers a choice whereby the premiums may be payable throughout life. In the event of death, the sum assured together with accumulated bonuses is paid to the beneficiary under the policy.
2. Group life for corporate clients:-Group life assurance cover is a group term policy which provides a lump sum benefit in the event of death occurring during the policy period. Group life benefit is largely an occupational scheme and is offered to organizations who wish to provide benefits to their members of staff. It is common for life insurance policies to have a term of many years.

We deal with a number of both local and international life insurance companies including:-

1. Friends Provident International.
2. Scottish Life International.
3. Norwich Union.
4. Kenindia Assurance.
5. Apollo Insurance.
6. UAP Insurance.
7. Geminia Insurance.
8. Royal London 360.
9. Metropolitan Life among others.